"The German economy's post-pandemic rebound has lagged behind other E.U. countries, and that stagnation has also been reflected in its art market."
"According to the latest Art Basel and UBS Art Market Report, average dealer art sales rose by 2 percent across E.U. markets between 2024 and 2025, with growth in countries like France and Switzerland."
"Roughly 38 percent of surveyed German dealers said their profits declined year over year; only 28 percent expect sales to improve this year."
"Thomas W. Rieger, director at Konrad Fischer Galerie, based in Berlin and Düsseldorf, said 'we can all see and feel recovery.'"
Germany's art market is struggling, with a 4 percent decline in sales while other EU countries see growth. The recent tax reduction on art sales from 19 percent to 7 percent has provided some relief, but many dealers remain skeptical about long-term recovery. A significant portion of dealers reported profit declines, and only a small percentage expect improvements in sales. Competing art fairs are emerging, but the overall economic stagnation poses challenges for local businesses.
Read at Artnet News
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